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This book is the latest addition to our list of publications and it provides basic information on Islamic finance. It is meant to be a useful reference tool to the majority of insolvency practitioners who do not work in this field. The chapters in this book were selected on the basis that it is expected that most INSOL members currently have very limited understanding of Islamic finance....

The INSOL Lenders Group initiated a project to
produce a guidance booklet for insolvency practitioners and others on matters relating to the impact of credit derivatives in restructurings. The working group of this project worked on the draft for over 18 months and in October 2006 INSOL launched a booklet entitled “Credit Derivatives in Restructurings”. The objective of the publication...

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Australian Sandalwood Group Quintis Appoints Administrators

Australia’s largest sandalwood forest company, Quintis Ltd, has called in administrators after one of its bondholders forced the firm to pay out A$37 million ($30 million), a spokesman for the administrators, KordaMentha, said on Monday. Quintis has been trying to raise new financing over the past nine months, but none of the recapitalisation strategies, including a buyout by the company’s former managing director, have reached completion, Reuters reported. Bondholder Asia Pacific Investments DAC, connected with U.S. fund Davidson Kempner Capital Management, triggered a put option last Friday requiring Quintis to buy 400 hectares of plantations for about A$37 million by Feb. 2. “Asia Pacific Investments exercised the option that pushed the company into administration,” a spokesman for KordaMentha said. A spokesman for Quintis was not immediately available for comment. Read more.